Just letting the Macro Unfold
This is the P&L chart for the Macro trade that we outlined on June 5. We are still in the core position build area, trade is positive by just a little over 2.3 %.
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The markets Refuse to be Defensive
My view is unchanged and I have tried to remain consistent. You can go back to the January 9, 2020 post, before COVID 19 hysteria. The Macro direction is lower, you can be defensive or you can think this is…Continue Reading →
It is up to Masks and Common Sense
Trump, Mnuchin, and Powell don’t get it. Forget Pence. There is only one thing that has a chance of saving the economy, Masks. Where I live, Chicago area, there seems to be little comprehension of this. The modeling has to…Continue Reading →
Macro trade still within positioning mode
June 5th was and remains an important measuring point. Our long financials (Bonds and Gold) vs short assets (Stocks and Commodities) Macro trade is still in a positioning mode. As of noon today CDT, since June 5, Bonds are up…Continue Reading →
Off the Rails, Trump down 8 points
What we are seeing today is nothing more than a Hail Mary move on the part of the Trump Fed to turn around the election Polls. It will fail. The big problem for Trump is that people and the economy…Continue Reading →
No Panic Yet
It is early, just 8:40 AM CDT. Market is sharply lower but gold is also lower. That is probably all we need to know at this point. The bulls still see the FED as their savior, they are just mildly…Continue Reading →
The Normal Attraction is Strong
This morning we are seeing a bounce back of almost half of yesterdays market move. The manipulators still have home field advantage, but we are still in the first inning. A Sad Time for America The lack of an organized…Continue Reading →
The Pause that Refreshes
As all of you know well, trading the Macro side of the market requires absorbing a tremendous amount of bullshit as things unfold. Yesterday was one of those kind of days, a day to reassess and move forward. Following up…Continue Reading →
This Market is based on a hope that the old Normal will Persevere
It seems events are kind of pushing my philosophical string today. I heard an interview today where the interviewee made the statement shown in todays title. People are looking through all the badness and are clinging to a vision that…Continue Reading →
It’s the Economy, Stupid
Yeah, the economy is in bad shape but any of us paying attention are behind the eight ball. How long can this go on? We know what we are dealing with and have been for the last two years. A…Continue Reading →